On October 10, Glassnode analysts said that although the bitcoin price will be volatile, the recent bitcoin market activity reflects a certain degree of resilience. They added that the decline in this bull market cycle was relatively small and continued to follow the pattern observed in previous market uptrends.
Wednesday's Glassnode Onchain Newsletter said that despite the recent correction, the overall structure of the bitcoin market remains consistent with the historic bull market, reflecting both the elasticity of demand and the limited scale of the recent correction. The report highlighted that while bitcoin has undergone corrections, they have been much milder compared to previous cycles.
Analysis: Bitcoin's recent decline has been relatively modest, consistent with historical bull market patterns
2024-10-10 05:06:40
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